HB Wealth Management LLC Boosts Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• HB Wealth Management LLC increased its stake in Lowe's Companies by 6.5%, acquiring an additional 3,435 shares, which brought their total holdings to 56,535 shares valued at approximately $13.2 million.
• Lowe's Companies recently announced a quarterly dividend increase to $1.20 per share, which represents an annual yield of 2.12% with a payout ratio of about 39.77%.
• Analysts have a consensus "Moderate Buy" rating on Lowe's Companies with an average target price of $271.12, reflecting positive sentiment despite some mixed earnings results.

HB Wealth Management LLC boosted its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,535 shares of the home improvement retailer's stock after acquiring an additional 3,435 shares during the quarter. HB Wealth Management LLC's holdings in Lowe's Companies were worth $13,186,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Gen Wealth Partners Inc boosted its stake in Lowe's Companies by 1.9% during the 4th quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer's stock valued at $534,000 after purchasing an additional 40 shares during the last quarter. Peachtree Investment Partners LLC boosted its stake in Lowe's Companies by 3.4% during the 4th quarter. Peachtree Investment Partners LLC now owns 1,286 shares of the home improvement retailer's stock valued at $317,000 after purchasing an additional 42 shares during the last quarter. Second Line Capital LLC boosted its stake in Lowe's Companies by 0.9% during the 4th quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer's stock valued at $1,183,000 after purchasing an additional 44 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of Lowe's Companies by 0.8% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer's stock worth $1,357,000 after buying an additional 47 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC boosted its stake in shares of Lowe's Companies by 1.1% in the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 4,570 shares of the home improvement retailer's stock worth $1,066,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Insider Transactions at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the transaction, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.27% of the company's stock.

Lowe's Companies Trading Down 0.2%

Shares of LOW traded down $0.55 during mid-day trading on Wednesday, reaching $229.50. 665,322 shares of the stock traded hands, compared to its average volume of 2,634,913. The firm has a fifty day moving average price of $222.93 and a 200 day moving average price of $232.12. The company has a market cap of $128.62 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 2.17 and a beta of 0.90. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The business's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.06 EPS. On average, sell-side analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a $1.20 dividend. The ex-dividend date is Wednesday, July 23rd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 2.09%. Lowe's Companies's payout ratio is 39.77%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Truist Financial set a $264.00 price target on Lowe's Companies and gave the stock a "buy" rating in a report on Thursday, May 22nd. Guggenheim reiterated a "buy" rating and set a $300.00 target price on shares of Lowe's Companies in a research note on Tuesday, July 22nd. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. KeyCorp raised shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price for the company in a research report on Friday, April 25th. Finally, Royal Bank Of Canada decreased their price target on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $271.12.

Lowe's Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.